Three USA Funds University Online Courses Updated for 2013-2014

USA Funds® University has updated three more of its online courses with 2013-2014 information.

104 Understanding Financial Need 2013-2014 Award Year

Clarifies the process used to determine students’ financial need and eligibility for need-based and non-need-based financial aid. Financial need is the difference between students’ costs of attendance — an amount determined by schools — and Expected Family Contribution, an amount calculated from information provided on the Free Application for Federal Student Aid. This course is designed for new financial aid professionals with little or no prior financial aid knowledge.

211 Understanding the Cohort Default Rate 2013-2014 Award Year

Explains the cohort default rate and what it means to schools, discussing the change from a two-year to three-year cohort period. Additionally, this course helps learners calculate a school’s CDR and understand the implications of that rate. This intermediate course is intended for financial aid professionals with a basic understanding of financial aid.

226 Loan Proration 2013-2014 Award Year

Describes the requirements for processing Stafford loans, outlining specific situations that require financial aid administrators to prorate annual loan limits for undergraduate students. This course reviews annual Stafford loan limits for undergraduate students and explains when and how these amounts must be prorated. Both subsidized and unsubsidized portions of Stafford loans are subject to proration. Examples and case studies used throughout this course enhance learners’ understanding of loan proration. This intermediate course is intended for financial aid professionals with a basic understanding of financial aid.

These courses are the latest to be updated in the on-demand curriculum of more than 30 self-paced online courses available from USA Funds University. USA Funds University is updating all of its online courses for 2013-2014, with three other updated courses previously announced.

Knowledgeable trainers with extensive financial aid experience develop the interactive courses, which are available at no cost to schools. Courses typically take 30-45 minutes to complete.

Select the Courses tab at for more information about all of the USA Funds University courses. New users must complete a simple, one-time registration process.